CardioDx Pockets $58M, Right After Medicare OK
Summary
CardioDx Pockets $58M, Right After Medicare OK Xconomy San Francisco — CardioDx persuaded the folks who work for Medicare that its molecular diagnostic test is a worthwhile medical advance, and now it has persuaded investors to put some more money to work into making it a commercial success.The CardioDx test is attempting to carve out a new market with molecular diagnostics for heart disease.By using this kind of test in non-emergency situations, CardioDx is hoping to help patients and doctors avoid some of the costly and invasive procedures currently used to see whether chest pain is a serious cause for alarm.The CardioDx test has been on the market for three years, at a list price of $1,195, but has seen limited adoption by physicians so far.CardioDx put itself in position to grow earlier this month, as Medicare, the federal health insurance program for the elderly, agreed to pay for the test.
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